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	<title>Dave Dickey Big Band</title>
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		<title>Balancing Inflation and Growth  Part 4 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 4 of 13 

The Federal Reserve, unlike the Bank of England, has a dual mandate. We are charged with creating the monetary conditions to support sustainable noninflationary employment growth. We must keep our eyes on two things: economic growth and price pressures. Of course, this is easier said [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/14</link>
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		<title>Balancing Inflation and Growth  Part 3 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 3 of 13 

Indeed, as I speak, central bankers here and across both the pond and the channel feel besieged by a seemingly insurmountable foe delivering retribution for our having been complacent, if not smug, during those happier days. Like Henrys troops at Agincourt, it may appear that [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/13</link>
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		<title>Balancing Inflation and Growth  Part 11 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 11 of 13 

One would like to think that as the economy slows, inflationary pressures will do likewise. But we cannot always be sure they will, given the globalized commodities trading system nature of the U.S. economy. Demand-pull pressures abroad have an increasingly potent influence on our domestic [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/12</link>
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		<title>Balancing Inflation and Growth  Part 5 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 5 of 13 

Some argue it is the slowing economy. Even if you foresee the most likely U.S. scenario as a period of flat growth for a few quarters, followed later in the year by a return to potential growth of about 3 percent, one cannot help but [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/11</link>
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		<title>Balancing Inflation and Growth  Part 12 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 12 of 13 

As a result, trade in services is one of the most rapidly growing components of global trade. Thus, even the available supply of architects or petroleum engineers or software designers or medical technicians or lawyers or commodity trading broker must increasingly be considered in the [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/10</link>
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		<title>Balancing Inflation and Growth  Part 6 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 6 of 13 

The woes of financial operators should not be overlooked, of course. There is a palpable risk that their pathology will lead to credit constriction that will, in turn, trigger an economic contraction. But thus far, the Cassandras on Wall Street, in the press and on [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/9</link>
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		<title>Balancing Inflation and Growth  Part 9 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 9 of 13 

Recent readings on inflation have not been encouraging. The rate of increase in the core personal consumption expenditures price index, or core PCE that is, what people buy, except food and energy was 2.2 percent over the 12 months ending in January. Yet, its headline [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/8</link>
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		<title>Balancing Inflation and Growth  Part 10 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 10 of 13 

There was a time, back when I was an outside observer of the Federal Reserve, when commodity future option trading the Fed practiced what some have dubbed opportunistic disinflation. Beginning in the mid-1980s, the FOMC recognized that while recessions sometimes occur, they could not be [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/7</link>
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		<title>Balancing Inflation and Growth  Part 1 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 1 of 13 

It is an honor to speak here in London to the Society of Business Economists at the suggestion of my much-admired friend, Charlie Bean at the Bank of England. Charlie is on the advisory board of the Dallas Feds Globalization and Monetary Policy Institute, and [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/6</link>
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		<title>Balancing Inflation and Growth  Part 8 of 13</title>
		<description><![CDATA[ Balancing Inflation and Growth  Part 8 of 13 

Over the same period, the dollar has declined nearly 3 percent against the euro. We know that monetary policy acts with a lag of commodities trading systems, but even with my well-documented pessimism about the efficacy of lowering the fed funds rate to 3 percent, [...]]]></description>
		<link>http://www.davedickeybigband.com/archives/5</link>
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